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Senator Tammy Baldwin and Senate Democrats released a report saying Market Facilitation Program payments were distributed unevenly, with 95 percent of top payment rates going to southern farmers. The report also cites payments to large and foreign-owned firms, and the senators urged USDA to change the program.
Political pressure could lead USDA to revise how trade aid is distributed, changing which farmers and crops receive support. The direct market price effect is limited.
baldwin.senate.govNov 12, 2019After 1,623 past policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 1,905 past policy events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% over 20.
After 1,019 past policy events, Wheat (SRW) moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.5%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
